# Chinese gold buying is overpowering Comax shorts

**URL:** <https://discussion.fool.com/t/chinese-gold-buying-is-overpowering-comax-shorts/103858>\
**Category:** Macro Economic Trends and Risks\
**Created:** [April 10, 2024, 11:52am UTC](https://discussion.fool.com/t/chinese-gold-buying-is-overpowering-comax-shorts/103858 "2024-04-10T11:52:25Z")\
**Posts on this page:** 2\
**Page:** 1

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**Author:** ![Divitias](https://sea2.discourse-cdn.com/motleyfoolfree/user_avatar/discussion.fool.com/divitias/32/9302_2.png) [@Divitias](https://discussion.fool.com/u/Divitias)\
**Post date:** [April 10, 2024, 11:52am UTC](https://discussion.fool.com/t/chinese-gold-buying-is-overpowering-comax-shorts/103858/1 "2024-04-10T11:52:25Z")

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There has been a Tectonic Shift in the gold market:

> **[Massive covert gold purchases mean China now controls the price action -...](https://www.kitco.com/news/article/2024-03-22/massive-covert-gold-purchases-mean-china-now-controls-price-action)**
>
> The Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.

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<div class="post-metadata">

**Author:** ![Divitias](https://sea2.discourse-cdn.com/motleyfoolfree/user_avatar/discussion.fool.com/divitias/32/9302_2.png) [@Divitias](https://discussion.fool.com/u/Divitias)\
**Post date:** [April 10, 2024, 3:29pm UTC](https://discussion.fool.com/t/chinese-gold-buying-is-overpowering-comax-shorts/103858/2 "2024-04-10T15:29:47Z")

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Not just the Chinese, it seems like Americans have a liking for the yellow stuff too:

> **[Costco selling as much as $200 million in gold bars monthly, Wells Fargo...](https://www.cnbc.com/2024/04/09/costco-selling-up-to-200-million-in-gold-bars-a-month-wells-fargo-estimates.html)**
>
> Gold has turned into money for Costco, where yellow metal sales begun last year have turned into a cash cow for the big-box retailer.